14 Untold Facts to Prove the Importance of CRM Software
Businesses since ancient times have placed great emphasis on customer relationship. It is not just in this digital era that customer relationship is essential, which is where CRMs step in. A healthy business always focuses on having a sound CRM tool which helps them recognize and communicate with their customers in a scalable way.
We have compiled a list of why having an effective CRMsolution is vital for the success of any company.
- Increased ROI- According to Grand View Research’s report:
“CRM is the fastest growing software market today. It was a $14 billion industry in 2010 and is expected to reach $80 billion by 2025. That’s nearly a 600% increase.’
Regardless of the business size,having a CRM fastens business processes and contributes a lot to the overall ROI rate.
- Convenience- CRM Magazine states:
“91% of businesses with 10 or more employees now use CRM software.”
These statistics self-explain the rising importance and impact of using CRM. Not only does it improveteam co-ordination, but also helps in forming an improved customer relationship management system.
- Growth- According to Nucleus Research report:
“A recent survey revealed that for companies that use a CRM, the average return on their technology investment is $8.71 for each dollar spent.’
A client relationship management software removes the hassle of manual processes, which ultimately adds value to the overall business plan while letting the business venture reap maximum benefits of software advancement in the form of CRM solution.
- Trends of Mobile CRM- As per a report generated by Super Office:
‘A survey of CRM users reported that the most exciting opportunity users cited foracquiring CRM technology are the ability to improve the customer experience. That ranked higher than content marketing, mobile access, personalization, and social CRM capabilities.’
In today’s times, the ability to smartly synchronize your operational practices with your gadgets has made it much more comfortabl for business officials to execute their plans without any hassle.
- Enriched Customer Experience- Researchers say that on an average, 65% of salespeople who adopt mobile CRM meet their sales quotas. Whereas, only 22% of salespeople who don’t leverage mobile CRM meet their quotas.
- Better Sales and Productivity-Salespeople frequently travel, which once used to restrict their ability to remain in touch with their customers. This traveling hampered their potential to give individual attention to each of their current or potential customers. Thanks to CRM, they now keep their clients updated at every step of their processes.
- Improved Conversion Rate- According to a report generated by Salesforce:
“Businesses that leverage CRM software witness sales increase by 29%, sales productivity increased by 34%, and sales forecast accuracy increased by 42%.”
CRM solution is infused with multi sales oriented tools and features which remove the unwanted hassle of a sales person in many ways.
- Implementation Cost- Cloudswave report says
“using CRM software can increase sales conversion rates by up to 300%.”
Since CRM solution automates a lot of processes while allocating some additional hours to the sales representatives to pay significant attention to sales activities, it helps the business save a substantial amount of costing and investment expenses in many ways.
- Easy Data Accessibility- CRMs are so user friendly these days that any newbie can comprehend and fully realize their potential within hours.
- Lead Capturing- As per Capterra,
“A recent poll of CRM users found that 47% of respondents say CRM usage has a substantial impact on customer retention. An equal percentage say that CRM usage helped them increase customer satisfaction.’
Be it any business; the objective is to get a productive lead helping the company make a whopping amount of profit without having the business sacrifice much investment or revenue.
- Easy to Access- According to Nucleus Research,
“Because CRM software greatly improves data accessibility, sales reps at companies using a CRM are able to shorten their sales cycles by 8 to 14%.”
There are several features available in a CRM (no matter developed for what purpose), and that too designed to enable the user to adapt to them swiftly. So, the user does not have to struggle with the overall implementation process as well
- 12. Attention Grabbing Software- According to a research report generated by Inside CRM,
“A recent study reported that 65% of CRM users consider ease of use to be the most important requirement when selecting a CRM solution.”
Its highly adaptive interface makes it the right tool for any business. From scheduling meetings with the senior management to showcase the highlights of your project to deliver your client with the results they wanted, the right CRM provides a one-stop solution to all your needs.
- Improved Effectiveness- A report by Aberdeen Group says,
‘Research tells us that the most effective sales organizations are 81% more likely to practice consistent usage of their CRM system.’
CRM Solutions are in high demand these days as they offer excellent efficiency and that too, with minimal maintenance. Be it team coordination or data accuracy; the solution is considered to be a real game-changer in every corporate circumstance.
- Better Business Planning- According to LinkedIn,
‘Survey data indicates that 64.2% of companies using a CRM rate the technology as “impactful” or “very impactful” to their ability to produce great results and grow their businesses.’
A CRM solution encompasses next-generation features, which ultimately makes it a choice of every business. Its ability to smartly display teamwork efforts and the projection of your success rate helps business owners in acting as better decision-makers for a better future of the company.
In today’s rapidly progressing world, customer dealing, and thriving upon it has become essential. Integrating a CRM system into your business can improve the situation and help in efficiently challenging newer ways of marketing.